Senate ready to block leakages, reduce oil theft

The Nigeria Senate on Tuesday stated that it will make laws that would revert the nation back to financial buoyancy once again.

Senate President, Bukola Saraki said this in his address to welcome Senators back from recess.

He pointed out that Nigeria’s oil revenue profile had taken a great hit, not only as a result of drop in oil receipt, but noted that the plummet was as a result of oil theft, indiscriminate grants of numerous import duty waivers, which unfortunately brought the nation to its knees.

He expressing the readiness of National Assembly to tackle these issues, through legislative frameworks that would block leakages and reduce oil thefts to the barest minimum so revenues can increase.